LITTLE ROCK — Ex-Alltel, CJRW execs form marketing firm
Communications veterans David Martin and Randy Wilbourn have formed Martin-Wilbourn Partners LLC, a marketing and communications company in Little Rock.
Wilbourn, a former officer at Alltel Corp., will be chairman of the firm.
Martin, who resigned last month as chairman and chief executive officer of Little Rock advertising firm CJRW, or Cranford Johnson Robinson Woods, will be chief executive of Martin-Wilbourn.
Several other former CJRW employees who left will work for Martin-Wilbourn, including Mitch Chandler, Andrew Moreau, Leslie Heizman and Mac Stroud, who will be senior vice presidents.
Steve Burnett, founder of Burnett Group in New York, will provide creative direction.
Metropolitan wins $1.6 million judgment
Metropolitan National Bank has won a $1.63 million judgment against Pinnacle Air Facilities LLC and Pinnacle Air Group LLC.
Little Rock-based Metropolitan National holds mortgages on three parcels of land at the Springdale Municipal Airport that the two companies put up as collateral for a $3.2 million loan in 2004.
Washington County Circuit Judge Kim Smith filed the judgment Friday.
The defendants have 10 days to pay, or the property will be auctioned at a foreclosure sale.
Other defendants in the case include Bill W. Schwyhart, Carolyn Schwyhart, Robert B. Thornton and Frieda V. Thornton, who guaranteed part of the loan.
A call to Bill Schwyhart’s office was not answered Tuesday afternoon.
Bill Schwyhart filed Chapter 11 bankruptcy petitions for eight business entities April 20, but a U.S. Bankruptcy Court judge dismissed seven of them May 24, writing that the companies had no reasonable likelihood of reorganization or evidence of funding to complete a reorganization. The petitions claimed the companies’ debts included $34.93 million to Metropolitan National.
State index tumbles as all its stocks fall
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, fell 5.87 to 168.72 Tuesday.
“Stocks plummeted Tuesday on concerns over weakening growth in China and a disappointing consumer confidence report,” said Chris Harkins, senior vice president and managing director of Delta Trust Investments Inc.
in Little Rock. “All of the Arkansas Index stocks finished lower.” Volume was 39.2 million shares, compared with average volume of 30.9 million shares.
The index was developed by Bloomberg News and the Arkansas Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business, Pages 25 on 06/30/2010